Brownstoner spotted this construction fence rendering for a six-story, 18-unit residential building going up a couple blocks south of McCarren Park in Williamsburg. It is still unclear whether the development will be condos or rentals—the current owner acquired the site in 2012 for $3.4 million in an all-cash, off-market deal, from previous owner Bedford Parkview Partners, who were having trouble financing their own residential development. Bedford had bought the lot in 2008 for $2.35 million, so things worked out okay for them.
The architect of record for the new building is Shawn Stiles of S&S Architecture and Design. According to the construction fence signs, the building is supposed to be finished this spring, although the two Stop Work Orders on the site—one for failing to put up netting and allowing mortar to fall on an adjacent property and one for continuing work after the first Stop Work Order—might have something to say about that.
· Rendering out for Six-Story Build in North Williamsburg Near McCarren [Brownstoner]
· Billyburg site nets owner 50% gain in 3 years [Crain's]